Crypto markets swung again this week as Bitcoin value hit $116,800 earlier than cooling close to $115,600, fueling discuss of a rebound towards $124K. Ethereum regained momentum above $4,700, edging near its all-time excessive.
Elsewhere: Hyperliquid (HYPE) prolonged a 530% surge, XRP broke $3.05 with a golden cross in sight, Mantle hit a brand new ATH, and Linea crashed 93% on debut. Grayscale’s contemporary ETF filings, MYX’s risky 200% run, and CoinShares’ $1.2B Nasdaq push rounded out the headlines. Scroll for the total recap.
Hyperliquid’s HYPE Token Targets $100 as Ecosystem Booms
HYPE has surged 530% this 12 months, climbing to $57.68 on the again of explosive progress throughout the Hyperliquid community. TVL hit $8.17B, stablecoins rose to $6B, and August buying and selling volumes topped $398B. With $1.3B in tokens already burned, analysts see $60 short-term and $100 long-term in play.
XRP Bulls Eye $3.60 as Golden Cross Nears
XRP broke previous $3.05 resistance, its highest in weeks, sparking bullish momentum. Merchants are looking ahead to an imminent golden cross and eyeing $3.60 targets, whereas whales collected $396M price of tokens. Regardless of an SEC delay on ETF approval, optimism stays excessive, with Polymarket bettors pricing a 91% likelihood by year-end.
Mantle Smashes New ATH as Bybit Partnership Ignites Rally
Mantle (MNT) surged previous $1.58, breaking its April 2024 excessive after a 60% month-to-month rally. Bybit’s integration, including 21 spot pairs and new derivatives, now drives 42% of MNT’s quantity. With a market cap above $5B and bullish momentum intact, merchants are eyeing $1.70–$1.90 subsequent.
Linea Token Plunges 93% After Chaotic Launch
Linea (LINEA), ConsenSys’ zkEVM token, collapsed 93% inside hours of its September 10 debut, falling from $0.32 to $0.024. The selloff adopted chaotic airdrop claims, with Binance customers accessing tokens sooner than retail. Regardless of backlash over tokenomics and inflation fears, Linea’s DeFi metrics stay sturdy, with $2.5B TVL and rising exercise.
Grayscale Pushes Altcoin ETF Wave With Hedera, Litecoin, and Bitcoin Money Filings
Grayscale has filed with the SEC to launch ETFs for Hedera, Litecoin, and Bitcoin Cash, increasing its altcoin push past Bitcoin and Ethereum. The bid consists of changing long-standing trusts into ETFs, with selections anticipated later this 12 months as ETF competitors heats up throughout crypto markets.
MYX Finance Rockets 200% However Crash Warnings Loom
MYX Finance soared over 200% to just about $15, making it the week’s prime gainer after rising from simply $0.15 in July. Buying and selling quantity hit $545M, but analysts warn the rally lacks fundamentals. Overbought indicators, profit-taking dangers, and destructive funding charges counsel a pointy pullback might be imminent.
CoinShares to Checklist on Nasdaq in $1.2B SPAC Merger
CoinShares is about to go public within the U.S. by a $1.2 billion SPAC take care of Vine Hill Capital, delisting from Stockholm in favor of Nasdaq. The transfer provides Wall Avenue direct entry to Europe’s largest crypto asset supervisor exterior BlackRock, Grayscale, and Constancy, with buying and selling anticipated by December 2025.
